30. Qualifications and Composition

Each Director shall be an individual who is at least 18 years of age, has not been found by a court in Canada or elsewhere to be mentally incompetent, does not have the status of a bankrupt, is in full agreement with the governing documents of the Fund, must have been a member in good standing of the GPC for at least three months, has no debts owed to the Fund, has not been an employee of the Fund for at least two (2) years, and has no criminal record. At least two of the Directors must not be Officers of the Fund or be officers or employees of the Fund’s affiliates. At all times at least 50% of the Board must not be Members of the Fund.